The global printing inks market portrays a sizeable diversity owing to the presence numerous players, says Transparency Market Research, based on a newly published report. With the number of players expected to increase in the near future, the competition is anticipated to expand and become intensified. Most players in this market are focusing on improving product quality, expanding product portfolio, as well as achieving extensive geographical reach. These three key strategies are foretold to make many players open up new avenues for revenue generation. Development of advanced technologies to manufacture state-of-the-art ink products remains a primary strategy of most businesses present in the global printing inks market.
Zeller+Gmelin GmbH & Co. KG, Sun Chemical Corporation, Sakata INX Corporation, TOYO Ink Group, Siegwerk Druckfarben AG & Co. KGaA, Royal Dutch Printing Ink Factories Van Son, Flint Group, Huber Group, T&K TOKA Corporation, ALTANA AG, and Wikoff Color Corporation, are key players operating in the global printing inks market. As per expert analyst, the global printing inks market is envisaged to gain revenue worth US$20.17 by 2024.
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Increasing Requirement of Packaging Products Boosts Demand
A burgeoning packaging industry that demands a continuous supply of inks for labeling purposes is primarily driving the global printing inks market. This is mainly due to the expansion of ecommerce and other platforms, wherein material for packaging products forms a crucial component of the respective businesses for shipping goods. Printing inks also are highly required in various other domains that demand labeling the names of products and other details. With rapid globalization, the demand for printing inks has tremendously increased. This factor is prophesized to remain as a key driver for the global printing inks market. Paperboard packaging is another factor that demands an extensive use of printing inks, thereby making the relevant market expand at a mammoth pace.
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Regressing Publishing Industry Hampers Ink Products’ Demand
However, a substantial decline in the publishing industry is majorly restraining the global printing inks market. This is mainly due to a high requirement of printing inks existing in this industry in order to publish content and material for advertising and manufacturing books and magazines. With an increasing dependence on gadgets and smart devices, material that existed in published form now can be accessed using the former source. This factor has had a substantial depreciating effecting on the use of published material, thus posing as a prime obstacle to the market’s growth. However, many publishing organizations as well as other packaging industries are introducing innovative products and services. This is soon expected to give a significant boost to the global printing inks market, as the demand of the inks is projected to marginally increase.
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From a regional perspective, the global printing inks market is spread across North America, Asia Pacific, the Middle East and Africa, and Latin America, and Europe. Of these, the market depicts maximum presence in North America, owing to a strong packaging and shipping industry. However, Asia Pacific too is expected to depict a substantial growth in the global printing inks market owing to rising industrialization and urbanization in happening this region.
The information in this preview comes from a Transparency Market Research report titled ‘Printing Inks (Solvent-based Printing Inks, Water-based Printing Inks, Oil-based Printing Inks and Others) Market by Process (Lithographic Printing, Gravure Printing, Flexographic Printing, Digital Printing and Others) for Packaging, Publication and Commercial Printing and Other Applications – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2024.’
Key Takeaways
- A burgeoning packaging industry that demands a continuous supply of inks for labeling purposes is primarily driving the global printing inks market.
- The market depicts maximum presence in North America, owing to a strong packaging and shipping industry.
